On Holding Ag (ONON) - Tuesday, Dec 19, 2023

• ONON's sole focus on running shoes and inability to expand into other categories implies they may be riding a trend rather than establishing themselves as a long-term player in the athletic footwear market
• Slowdown in growth of the fad, coupled with high estimates and valuation, make ONON a risky investment
• With most sales coming from wholesale and heavy reliance on North American market, any changes in trends or consumer preferences could negatively impact company performance, making it a short opportunity.

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